A person or institution that stands in a special relation of trust, confidence, or responsibility in certain obligations to others.  The law imposes a higher standard on fiduciaries than on non-fiduciaries; therefore, it is easier to hold fiduciaries accountable for their actions or inactions.  Attorneys, trustees, and SEC Registered Investment Advisors are examples of fiduciaries.  Trustees are fiduciaries for trust beneficiaries with regard to trust administration issues.  SEC Registered Investment Advisors are fiduciaries to their clients with regard to investment-related decisions.  
back to top